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What is the one advice you give smaller startups when competing with larger or most established businesses?

Startups often fall in the trap of feeling inadequate to their larger competitors, especially when... read more

Asked by:
Phil Khor Founder at SavvySME
I see two answers to this Phil.The first is mindset.... why is a mistake a failure? The big boys had many failures along the way and yet still managed to succeed. An example that is often given is the moon landing. On the way there they were off course 99.9% of the time, with continuous minor adjustments along the way they reached their destination, despite being off track the majority of the way.What you focus on expands so be sure to be continuously working on your energy levels to attract all matter of 'good stuff' and focus on where you are going, not the past where the mistakes are. They have already happened.... move onward on upwards taking away what you have learnt and leveraging.The second is .... Play to your strengths! The advantage that you have over a bigger business is your ability to move quickly. You can have an idea in the morning and have it executed by lunchtime. Big business can not achieve this, there are often too many chiefs or too much red tape.Flexibility is your strength, use it!
Tom Potter at pottercorp
critical time and research needs to be placed into strategy
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Questions

What would you have done differently to make Eagle Boys even bigger than what it is today?

Everybody loves pizza and there are some obvious competitors in the market. If you were turn back... read more

Asked by:
Phil Khor Founder at SavvySME
Tom Potter at pottercorp
probably introduced more capital to grow harder and faster /however the main key point was to have a major point of difference which we had up until I sold the business
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What did you do to stay motivated while waiting?

What did you do to stay motivated while waiting for Ozbargain to really catch on? When you saw... read more

Asked by:
Jef Lippiatt Co-founder at Startup Chucktown
Scott YangFounder at OzBargain.com.au
Hi Jef,First of all, the traffic actually does not fluctuate that much these days. You know the traffic is going for a dip on a weekend (somehow it's a norm checking out bargains during business hours :) Long weekends are bad, but made up by other events such as Valentine's Day or Boxing Day shopping.However early on (maybe the first 2 years of OzBargain) the traffic can be slow and frustrating at times. You analyse the fluctuation carefully so you can understand the pattern and whether these are the effect of internal or external changes. However at the same time you also don't want to be affected by it too much. "Looking at the big picture" they say. Don't worry about day to day changes but your month to month growth.As of motivation - I don't wait around for it to catch on. I just want to build something that rocks :) Somehow that product of mine became something that many Australians ended up using and enjoying.
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Measuring startup success

What PayPal's Rocky Beginnings Can Teach You About Startup Success

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